HOW TO BUY BITCOIN WITH PAYPAL OR CREDIT CARD / DEBIT CARD

Aug 13, 2014 9:56:57 PM

Buy Bitcoin With Paypal or Credit / Debit Card - May 2014

Since no exchange currently allows a way around the charge back issues of buying Bitcoins with Paypal we are going to have to go through VirWox – The Virtual World Exchange. We will use a virtual currency called SLL (Second Life Linden Dollars), This currency is used for one of the biggest virtual worlds today – Second Life. After buying this currency with Paypal (which is acceptable) we will then trade it to Bitcoins.

Why Can't I Buy Bitcoin With a Credit Card or Paypal

Things you should know before we get started:

Because of chargeback risk Virwox is taking on themselves they are limiting the amount you can deposit initially through Paypal or a credit card, here are the exact limits according to their website from December 21th 2013.

This process hold within it more transaction fees than usual. This may still be a valid solution since the soaring numbers of BTC compensate for this. It’s important for you to be aware of the different transaction fees.

Since December 2013 VirWox is delaying new user transactions for up to 48 hours. This means that it can take you 2 days to complete this process (still way faster than using a wire transfer)